Receive a Monthly Return with a Cash-back Credit Card – Week 11
For its 11th challenge, Metro’s Small Changes, Big Win series gets you to save by securing a cash-back credit card.
Small changes to the way you spend can add up. We’ve pulled together weekly tips that will add a minimum of $10 to your savings. Ready to watch your money grow? Check out this week’s tip.
Week 11: Switch to a cash-back credit card
How It Works: Let’s face it. Not all of us spend enough on our credit cards to benefit from travel rewards. So, why not switch to a credit card where you receive a monthly cash-back credit. Cash-back credit cards typically offer between two and four per cent cash-back on your purchases, which is applied directly to your statement. On Canada’s most popular cash-back cards, cardholders average savings of $500 per year.
The key with a cash-back credit card is to ensure that the amount of cash-back you receive is greater than any annual fee you might pay.
Take Action: Sign up for a cash-back credit card and then eTransfer $45 into your savings account.
Options: Ratehub.ca has a calculator to compare cash-back credit cards to help you determine which is right for you.
Published by Metro News March 4, 2018.
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- This Year, Restrict Holiday Drinks to Half-price Happy Hour – Week 2
- Save and Lessen the Burden on the Environment With Christmas eCards – Week 3
- Who Says You Shouldn’t Regift? Spread Holiday Cheer and Bank the Savings – Week 4
- To Save Money, Buy Gift Cards With Your Leftover Gift Cards – Week 5
- Ditch the Drinks and Smokes – Your Wallet Will Thank You – Week 6
- Save Some Cash and the Environment by Abandoning Bottled Water – Week 7
- Shave Your Costs by Bulking-up Your Disposable Razor Supply – Week 8
- Goodbye Costly Cable TV. Hello Savings – Week 9
- Bringing Lunch to Work is a Smart and Healthy Way to Save – Week 10